$MORE – A GENERATION-BY-GENERATION LOOK AT INVESTING Day 2: Generation Y – Millennials (Born 1981–1996, aged 30–45) Yesterday I looked at Generation Z and how time can be their biggest advantage when investing. Today I'm looking at Millennials, and I actually think this is one of the most interesting generations when considering an investment such as $MORE. Why? Because Millennials are at a stage of life where their financial priorities are changing. Many are now established in their careers, earning more than they did in their twenties, but they're also dealing with mortgages, childcare, rising household expenses and the growing realisation that retirement might not be as financially comfortable as they once imagined. They're earning money, but a surprising amount of it is already spoken for. And I think this is where investing for income starts becoming particularly interesting. Research from interactive investor's 2026 Great British Retirement Survey found that Millennials have a typical pension pot of approximately £25,000, despite expecting to retire with around £450,000. That's quite a gap to bridge, even allowing for another 20 or 30 years of working. What's interesting is that Millennials are already investing outside their pensions. The same research suggests they're investing around £400 a month on average outside pension arrangements. So the appetite to invest is clearly there. But I wonder how many have seriously considered building an additional source of income rather than focusing entirely on capital appreciation? This is why I believe $MORE deserves their attention. $MORE is a perpetual preferred equity issued by The Smarter Web Company, currently carrying a 12% annual dividend rate, calculated against a £100 reference amount per share, with dividends scheduled weekly. It's a different proposition from buying ordinary shares in the hope that the price appreciates. With $MORE, the primary attraction is the potential income. Let's look at the numbers. At the current dividend rate: 100 shares = £1,200 annually. 250 shares = £3,000 annually. 500 shares = £6,000 annually. That's approximately £23, £58 and £115 a week respectively, before tax. These figures assume the current dividend rate continues and the shares are held for a full year. The actual investment cost depends on the market price, and the dividend rate can change. Now imagine being 35 or 40 years old and beginning to build an investment portfolio that generates an additional income stream. You don't necessarily need that income today. Perhaps you reinvest it, buying additional shares and potentially increasing the dividends received in the future. Perhaps you use part of it to help with household expenses while reinvesting the remainder. Or perhaps you simply want to build investments that could eventually supplement your earnings and give you greater financial flexibility. For Millennials, I think flexibility is enormously valuable. There's another reason I believe income-producing investments deserve consideration: inflation. Millennials have experienced some significant financial shocks during their adult lives, including the 2008 financial crisis, the pandemic and the subsequent surge in inflation and interest rates. They understand what happens when household expenditure increases faster than wages. An additional investment income stream could help offset some of those rising costs, although $MORE isn't inflation-linked and its dividend isn't guaranteed to maintain purchasing power. I also think there's an interesting psychological difference between owning an investment purely for price appreciation and owning one that aims to distribute income regularly. With a growth share, you might spend years waiting for the market to recognise its value. With an income-focused preferred share, you're investing primarily for distributions rather than relying entirely on a higher future selling price. That doesn't make it risk-free. $MORE is an equity investment, not a savings account. Dividends can be suspended, its rate can change, its market value can fall, and The Smarter Web Company's Bitcoin treasury strategy introduces additional risks. The preferred shares do, however, rank ahead of ordinary shareholders and carry cumulative dividend rights. What excites me about $MORE is the opportunity to make the money you've already earned start working for you, potentially generating income every single week, and then having the choice of spending that income or reinvesting it to build something substantially bigger over the years ahead. I think Millennials are reaching the age where building wealth becomes just as much about generating income as accumulating assets. And with another 20 to 30 years potentially ahead before retirement, the ability to reinvest that income could be particularly valuable. That's why I believe $MORE could appeal to this generation. Not because they're looking to get rich overnight, but because many are now thinking seriously about making the money they've already earned work harder for them. Tomorrow: Generation X. A generation approaching retirement, where protecting wealth, generating income and reducing dependence on employment become increasingly important. $MORE $SWC #Millennials #Investing #Dividends